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Donor Resources |
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INTRODUCTION
First Wills are usually prepared when there are young children. Needs at the time are:
- passing property to the surviving spouse
- naming a guardian/trustee to care for and protect children.
As children become self-sufficient, different concerns emerge. Wills and Estate Plans which were once effective must be updated to meet new challenges!
No "one-size-fits-all" solution meets the planning needs of every Christian. This is where the Planning Checklist comes in. (Use it as a guide with your own planning advisors to help meet your goals.)
DO I HAVE ...
An up-to-date Will or Living Trust
As your planning needs change over the years, your Will should be updated to manage these changes.
A Living Trust disposes of property in much the same way as a Will, while providing other benefits. A Living Trust is a simple and flexible way for you to hold and manage your property. It will also allow for others to act on your behalf at any time it may become necessary. If the Trust contains all your property, then the estate passes free of probate.
A Durable Power of Attorney
Through this document, you appoint a person to manage your property if you become incapacitated. A Power of Attorney applies to property which you have not transferred into a Trust. Formal guardianships on your behalf are normally made unnecessary by this action.
A Living Will
Most states now authorize you to make a statement of your desires to medical treatment in the event you become terminally ill. Preferences about the use of "heroic efforts" and artificial life supports are frequently included.
A Health Care Power of Attorney
This document allows you to appoint a person to be your representative for purposes of making medical decisions for you at any time you are unable to make them yourself.
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HOW DOES YOUR CHECKLIST LOOK?
One of the many free and confidential services of Barnabas Foundation is to discuss with you, the issues you need to address in your estate planning.
We have extensive experience in helping families meet a wide variety of other estate and tax planning needs.
During this planning process with Barnabas Foundation, you will discover distinctive ways of supporting your favorite Christian charities, as well.
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Printing a copy? |
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